A] Indian Contract Act‚ 1872 The Contract Act serves as a Mother Act. The Contract Act has a direct link with most other Acts. Whenever two or more people want to establish a relation between/amongst them‚ there is a need for a contract: Sale of Goods Act (buyer-seller relation)‚ Partnership Act (principal-agent relation)‚ Negotiable Instruments Act (debtor-creditor relation) and so on. Key takeaways: • A contract is any promise or set of promises that are made by one person to another in return
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The Indian Contract Act‚ 1872 Contract – Meaning and Nature: The law of contract constitute the most important branch of mercantile or commercial law. The law relating to contracts is governed by the Indian Contract Act‚ 1872. This act mostly deals with general principle and rules governing contracts. The act is divisible into 2 parts: 1. Section 1 to 75 – deals with general principle of contract and applies to all contracts irrespective of their nature. 2. Section 124 to 238- deals
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1. Which Act sets the minimum wage ‚ and what is the current wage rate? The Fair Labor Standards Act sets the minimum wage.The current minimum wage is $7.25/h. 2. Under the FLSA‚ what information concerning the employee’s wages earned must be maintained by the employer? 1. Day and time of day when work-week begins. 2. Regular hourly rate of pay. 3. Basis of wage payments 4. Hours worked each day 5. Hours worked each week. 6. Daily or weekly straight -time pay. 7. Amount & nature
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Contracts II‚ UCTA and SGA ! Is everything in a contract a term?! ! Trader’s puffy - typical exaggerating advert statements.! Representations - a statement of the fault that persuades the other party to enter into the contract. ! The court takes into account four factors in deciding whether a stamens is part of the terms or just presentation. ! 1. The parole rule: written contracts - only the terms included in the written contract document are terms; any verbal statements will be representations
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features of the consumer protection act 1986. Also briefly discuss unfair trade practice and restrictive trade practice as discussed under consumer protection Act? 3 . What are the characteristics of negotiable Instrument? Discuss the ‘privileges’ of holder in due course as per the provisions of the Negotiable Instruments Act‚ 1881? Also state the important amendment to be incorporated under sec 138 of the act. 4 . Discuss the essential elements of a valid contract. 5 . Write short notes on
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an action against Dan‚ what are the legal issues involved in this action and how should each be resolved? Discuss. Issue: Is Dan liable to Pat for breach of contract. Rule: Here the agreement between Pat and Dan falls outside of Common Law and within the boundaries of the Statue of Frauds. The most relevant of the types of contracts which fall within the Statue of Frauds‚ is an agreement for the sale of land and for an interest in land‚ or an agreement by a purchaser of real property to pay
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It is quite complicated to incorporate the GAAP criteria to the contract. The contact does not clearly identify what the $5‚000‚000 fee is for. One can imply that it provides PACE the exclusive rights to show these films in their own theatres. If that was the case then the $5‚000‚000 is realized when the contract is signed however $2‚500‚000 is earned at the time of signing the contract and the remainder is not earned until PACE uses these rights for six months. They will recognize it as revenue
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The Aadhaar Act: A distressed remedy!?! ‘R ight to privacy’ is a term which has been assumed and ignored upon since immemorial times. It is vested within right to life and liberty under Article 21 of the Constitution of India. There are numerous followers who have been constant supporters of this right. Shakespeare also had his own notions of privacy which means ‘undeclared’ which includes sense of ‘social secrecy’. Many known jurists have described privacy as the existence of private element in
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and values to uphold at all times‚ unprofessional acts in a work environment should be at its utmost minimum to prevent a hostile environment. These acts range from insubordination to bullying and intimidation‚ no one deserves to experience such acts and proper consequences should follow. Corporations all over the world experience unprofessional acts on a daily basis from employees and higher officials‚ their policies should not approve of these acts therefore the policies should be held to a higher
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violated the FTC Act because they caused substantial financial loss to consumers with something they couldn’t reasonably avoid (ftc.gov‚ Item 32‚ p. 10 (n.d.). Amazon sold these items without requiring a password so the charges were in the millions of dollars. Apple settled with the FTC for a similar issue in the sum of $32.5 million (ftc.gov‚ 2014). But Apple didn’t settle like Apple did and they claimed that their case was different because their facts were different than the Apple case (FoxNews‚ 2014)
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